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by Annie Cunningham

The first investment opportunity for members of Heartland AgVenture has come from Golden Oval Eggs of Renville, Minn. Golden Oval Eggs, a new generation value-added cooperative, will hold an equity offering Nov. 15 through Dec. 31. The company is offering shares at a minimum initial investment of $10,000 for new shareholders and $5,000 minimum investment for current shareholders.

The $10 million offering will raise capital to fund Golden Oval Egg’s new joint venture with Inovatech, a Canadian firm that markets egg products worldwide. The new venture brings together Golden Oval’s successful egg production and processing expertise with Inovatech’s strong research and development experience and global marketing expertise.

"Farmers in other states have had investment opportunities in value-added commodity businesses. This is a first for Ohio farmers through Heartland," said Mike Pullins, Ohio Farm Bureau Federation (OFBF) vice president of business services and commodity relations. "While the mission of Heartland is to make investment opportunities available to its members, Heartland and Ohio Farm Bureau do not and cannot recommend members invest in this or any other specific enterprise.

"This equity offering is another way farmers can explore capturing more of their profits before they leave the gate," Pullins said.

Informational meetings for potential farmer investors will be held throughout the Midwest in Illinois, Ohio, Michigan, Minnesota and Iowa. The meetings in Ohio will include a presentation on Heartland AgVenture and a presentation by Golden Oval Eggs. There will be a $10 fee to attend the meetings which include a meal. Following is a list of dates and times for the Ohio meetings:

• Dec. 3 – OARDC Fisher Auditorium, Wooster, 6 p.m.
• Dec. 4 – Shriners of Carey, Carey, 11:30 a.m.
• Dec. 5 – Fairgrounds, Washington Court House, 6 p.m.

Heartland AgVenture was kicked-off at Farm Science Review in September. Through Heartland AgVenture, producers, businesses, Ohio State University and private research and development firms will cooperate to identify and validate potential business opportunities. Proposals with the most potential to earn income will have feasibility studies conducted. If appropriate, business plans will be created and capitalization will be sought. The ultimate goal is to launch successful commercial enterprises that will profit farmers, investors and local economies. Heartland AgVenture will allow growers to earn added profits from the manufacturing and processing of their crops and livestock.

"The offering by Golden Oval Eggs is hopefully the first of many investment opportunities," Pullins said.

Initial funding for Heartland AgVenture has come through the sale of memberships in the association. Initial fees range from $800 for individuals up to $5,000 for businesses and organizations. Additional annual dues will be $200 for all members.

Additional costs are assumed by OFBF, which provides administrative personnel and office space.

Established in 1994, Golden Oval Eggs, a division of Midwest Investors of Renville, is an agricultural cooperative owned by 700 farmer-shareholders committed to assuring the future of the family farm. Initially producing raw egg products at its in-line production facility in Renville, Minn., Golden Oval Eggs expanded operations in August 2000 by building a new layer and egg-processing complex in Thompson, Iowa.

In-line egg production and state-of-the-art processing facilities and equipment make Golden Oval one of the world’s most modern and automated food companies. The process of quality assurance, using single-source genetics, controlled feed sources and milling, strict biosecurity, a computerized management system that controls and monitors flock comfort and production plus frequent health inspections by veterinarians, ensures that all of Golden Oval Eggs’ products attain the highest standards. Golden Oval Eggs is committed to producing food in a safe and humane manner while protecting the environment.

To learn more about Golden Oval Eggs, visit the OFBF Web site at www.ofbf.org and click on Featured Links.

To attend a meeting please send your name, address, the date of the meeting you will attend and reservation fee to: Heartland AgVenture, P.O. Box 479, Columbus, OH 43216.